Quote (Melatonina @ Nov 10 2022 12:37am)
Lmao do people even look at charts before buying or just the name of Elon Musk is enough to convince them buying a falling knife ?
Since months I said Tesla was going to the cave for many obvious reasons, musk himself has sold millions of TSLA shares over the last few days.
Especially since he has a TON of his shares as collateral to pay the debt he took out to buy Twitter.
The only reason Tesla trades at such a ridiculous valuation is because people think Elon is a genius who will revolutionize the entire world now that he has money from Tesla.
The reality is starting to sink that Telsa is just an electric car manufacturer with only a few years of advantage over the legacy manufacturers, and that gap is quickly closing.
If we value Tesla as a tech company it has a potential 75% loss. If we value it as a car manufacturer, which is much more realistic, it could be more than a 90% loss.
That's based on current revenue though. If they keep growing for a few years that will be smaller, but still significant. They would need to double their profit several times to avoid a pretty huge price drop in the coming years.
This post was edited by NetflixAdaptationWidow on Nov 10 2022 12:53am